Estate Planning Attorney Services

Waltman Law provides estate planning services which will provide you with the guidance needed to properly manage your assets.

Basic Estate Plans

Transferring ownership is an important necessity that should be settled and resolved in an official capacity. With Larissa Waltman as your estate planning attorney, we will draft the following documents to take care of you and your assets.

In addition to a will, the basic estate plan can include a Lady Bird deed, power of attorney, and durable power of attorney for health care documents. An estate planning attorney will thoroughly review your current situation and choose which additional filings are appropriate and in your best interest.

Wills identify the executor of an estate, beneficiaries of the estate, and how the estate is to be divided in the event any assets remain which have not been provided for otherwise. Assets which transfer through a will are transferred as part of a probate estate. Beneficiaries can also be added to many assets such as bank accounts and retirement accounts letting them transfer to the beneficiary upon the institution’s receipt of a death certificate. Assets with a listed beneficiary would not need to be probated and the will would not affect how the asset is distributed.

Simple Wills also known as Statutory Wills are best for those who do not need extensive tax planning or trusts and where all of the beneficiaries are competent adults, charities, or corporations. They do have limitations such as no more than two cash gifts can be made and the statutory will has no effect on jointly held assets.

Lady Bird Deeds give the grantor (owner) a life estate in the property and transfer the real estate at the time the grantor passes to the stated grantee (beneficiary) if the grantor has not sold the property during their lifetime.

Living Wills are frequently incorporated into a Durable Power of Attorney for Healthcare but is not required to be incorporated. It provides specific guidance to the individual that has been appointed and medical professionals regarding the patient’s wishes. For example, it can identify specific medical care that should be withheld such as a do-not-resuscitate order.

Power of Attorney appoints an adult who can make decisions for or pay bills for another. This is most commonly used where an individual either is unable to make decisions due to medical reasons or because they cannot physically be present to sign required documents. This can also be used to provide authority to an adult such as a grandparent who may spend a lot of time caring for their grandchildren, letting them speak with school personnel, doctors, etc.

Durable Power of Attorney For Health Care (Patient Advocate) designates an individual who an individual trusts to make life and death decisions for them if they are unable to do so for themselves.

A Living Trust allows an individual (the grantor) to provide a roadmap for how the individual who administers the trust (the trustee) is to distribute assets held in the trust. The grantor must place the assets into the trust through the creation of other documents such as deeds from the grantor to the trust or by signing additional documents at financial institutions. The grantor is frequently the initial trustee and the initial beneficiary. Family members, institutions, or other third parties may also be appointed as the trustee. Some trustees receive payment for their services. Given the additional expense and ongoing documentation required, a trust may or may not be appropriate for your estate planning needs.